In addition, remember that if your edits affect significant portions of the video in the project, you will have to re-render these anyway before producing your disc.
However, remember that during MPEG capture, Studio defaults to an encoding algorithm optimized for encoding speed rather than quality, so quality will be optimized if you capture with DV and encode in MPEG format during final rendering. Studio simplifies these captures with presets that deliver the properly formatted video for each project. The most obvious time to capture directly into MPEG format is when you're creating projects using MPEG-formatted video, such as in DVDs, VCDs, and SVCDs.
Learn More Buy Capturing DV Video to MPEG Format Pinnacle Studio 10 for Windows: Visual QuickStart Guide